SEPC Shares Hit Nearly One-Month High After Order Win

SEPC Ltd. shares hit nearly one-month high after it received an order worth Rs 270 crore for Railway Infrastructure Project.

The order was awarded by Vishnu Prakash R Punglia Ltd. on a sub-contract basis, the company said in an exchange filing on Tuesday. The order is in connection with Ajmer-Chanderiya Doubling Project of Ajmer Division by the North Western Railway.

The order valued at Rs 270 crore is to be completed within 24 months from the date of issue of letter of award by the department.

The company on Monday had announced its association with the Jai Ambey Roadlines Private Ltd. and Avinash Transport Consortium in connection with the Rampur Batura Opencast Coal Mine Project located in Sohagpur Area, District Shahdol, Madhya Pradesh.

The aggregate contract value under various contracts is Rs 3,299.51 crore, with an estimated project tenure of 10 years. The project includes supply of materials, supply and demand of machinery and manpower, project management and consultancy services and other associated services as per the agreed scope, the company said in a regulatory filing on Monday.

The scrip rose as much as 7.65% to Rs 10.98 apiece on Tuesday, the highest level since Nov. 19. The stock extended its advance for the second day. It pared gains to trade 6.57% higher at Rs 10.87 apiece, as of 10:42 a.m. This compares to a 0.49% decline in the NSE Nifty 50 Index.

It has fallen 55.09% in the last 12 months and 49.29% year-to-date. Total traded volume so far in the day stood at 2.62 times its 30-day average. The relative strength index was at 56.22.